Cramer Claims BofA (BAC) Might Actually Be a Buy
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Price: $114,425.00 +0.31%
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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During CNBC’s Mad Money show on Thursday night, Jim Cramer applauded Berkshire Hathaway (Nasdaq: BRK-A) for investing $5 billion into Bank of America (NYSE: BAC).
Cramer said the $5 billion investment removed a portion of the overhang looming above the bank.
To the remaining skeptics, Cramer asks, "Which do you prefer, the government taking a stake and wiping out everybody... or Buffett taking a stake and taking everyone along for the ride?"
With the investment form Berkshire Hathaway helping to drive the stock up 9.44 percent during Thursday's session, a lot of the worst case scenario talk is depleting, according to Cramer. "And, you know what? The stock might actually be a buy."
Cramer said the $5 billion investment removed a portion of the overhang looming above the bank.
To the remaining skeptics, Cramer asks, "Which do you prefer, the government taking a stake and wiping out everybody... or Buffett taking a stake and taking everyone along for the ride?"
With the investment form Berkshire Hathaway helping to drive the stock up 9.44 percent during Thursday's session, a lot of the worst case scenario talk is depleting, according to Cramer. "And, you know what? The stock might actually be a buy."
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